GAIL net edges up 3%
BS 200 SCORECARD
| Company officials downplayed the flattish performance. "The increase in net profit is despite the increased share of LPG subsidy we paid during the quarter," a company statement said. LPG subsidy during the quarter increased by over 53 per cent to Rs 315 crore compared with Rs 206 crore in the corresponding previous quarter. |
| The company, which also owns and operates the country's largest gas pipeline network - it operates 5,470 km of pipeline - registered a turnover of Rs 4,378 crore during the third quarter (Oct-Dec) of the financial year, a 12 per cent increase over the Rs 3,911 crore in the corresponding previous period. |
| Earnings per share during the quarter stood at Rs 7.87, up from Rs 7.61 in the same quarter last year. |
| In the nine-month period ended December 2006, the company net profit dipped 10.25 per cent to Rs 1,706 crore compared with Rs 1,901 crore in the corresponding period last year. The company has already declared a 55 per cent interim dividend for the current financial year. |
| "The primary reason for the slip in profit in the nine-months is because gas supply was affected for a month during the second quarter due to the floods in Gujarat," the company's spokesperson said. |
| Net sales during the period, however, rose 13 per cent to Rs 12,164 crore as against Rs 10,800 crore in the same period last year. LPG subsidy to downstream companies during the period was also higher at Rs 986 crore from Rs 526 crore. |
| During quarter the company also picked up 30 per cent stake in the A-7 oil and gas exploration block in Myanmar. The company already has a stake in the A-1 and A-3 blocks in the Southeast Asian country. |